New York (HedgeCo.net) – When hedge fund founder and manager John Horseman stepped down from his position as CEO of Horseman Capital, his clients pulled out with more than half of the hedge fund’s assets, Reuters reported.
Horseman’s flagship fund fell to just $535 million in size from $2.8 billion in November. The clients withdrew aproximately $2.5 billion at the first possible opportunity, after hearing of Horsman’s resignation, Reuters said.
“We had redemptions on the back of the announcement made last year,” a spokesman said in an interview with Reuters. “Investors were allowed to redeem on January 4, and that’s when the bulk of the redemptions took place.”
Alex Akesson
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